Litecoin boom: will it be able to sustain the momentum?

Litecoin boom: will it manage to sustain momentum? According to some analysts, LTC is aiming for $ 50.

Litecoin boom: will it be able to sustain the momentum? - litecoin

At the end of last week Litecoin (LTC) has increased by more than 10% in a matter of hours, from $ 33 to $ 38, making it the fourth criptovaluta more capitalized in the global market. To do the same was, intuitively, EOS: the former fourth cryptocurrency by value has given way, leaving the podium made up of Bitcoin, Ripple ed Ethereum.

Increase in value of Litecoin

The sudden rise of value of Litecoin takes place in a period in which the community of open-source developers has made significant progress in the implementation of scalability and privacy solutions, largely concerning the project Litecoin which, since the beginning of January, has seen its developers focus on the implementation of Confidential Transactions e Mimblewimbl to, solutions initially developed for the Bitcoin blockchain in July 2016.

Litecoin Privacy

The similarity in the structure of Litecoin and Bitcoin allowed the LTC developers to experiment with the two solutions in a relatively short period of time. Charlie Lee, the creator of Litecoin, said last month that the Litecoin community has made extensive efforts to complete the implementation of the confidential transactions by the end of the 2019, functions focused on privacy, which allow users to send and receive payments without revealing their identity.

Since transactions are processed with less data to protect the identity of users and addresses, confidential transactions and Mimblewimble transactions are also of a smaller nature, improving the Litecoin network's transaction capacity and confidentiality.

Litecoin forecasts

But will Litecoin manage to sustain this momentum? Hard to say, although some analysts estimate Litecoin can go up to 50 dollars in a relatively short period of time. Given that both the technical and fundamental indicators remain strong for this cryptocurrency, in fact, analysts expect the asset to be able to maintain this moment of strength for the moment.

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